The arndt company repurchased 50,000 shares of its own common stock on the stock exchange during 2019. at the end of 2018, arndt had 750,000 shares of its common stock outstanding, during 2019, no preferred dividends were paid but $350,000 of dividends were paid on common stock. net income for 2019 was $3,300,000. which of the following is not true for 2019 based only on the above information? a. earnings per share would be calculated using 350,000/750,000. b. stockholders equity would decrease because of the dividends paid. c. earnings per share for 2019 is higher because of the stock repurchase than if the purchase had not been made. d. the purchase of treasury stock will reduce cash during 2019.